Rancho Del Rio Master Association C/O Keystone

“Association hires (under a competitive bid process approved by the board of directors) the services of a professional management company which manages the day to day administrative duties of the organization subject to the oversight of the board of directors. The management company acts as an agent for the association.”

“As per the governing documents - residents become members by virtue of owning a unit in the community.”

“Members have voting rights accorded to them by virtue of owning a unit in the community as specified in the association's governing documents. The members elect a board of directors which provides oversight for the association business affairs as well as services provided by the management company.”

“The association's governing documents specify the various resolutions requiring membership approval. Most resolutions require only board of directors approval. The association complies with all state requirements for community interest developments regarding membership approval.”

“Association's board of directors reviews and approves the tax returns.”

“The association has no employees. The association does not compensate its officers or board of directors. No policy or procedure for compensation is required.”

“All documents required to be disclosed by the association are available upon request at the offices of its management company.”

“All documents required to be disclosed by the association are available upon request at the offices of its management company.”

“Foster highlands - utilities/landscape: program service expenses 25,385. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,385. Insurance: program service expenses 6,304. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,304. General and administrative: program service expenses 0. Management and general expenses 5,986. Fundraising expenses 0. Total expenses 5,986. Pest control: program service expenses 5,460. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,460. General maintenance and repairs: program service expenses 2,362. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,362. Security/patrol services: program service expenses 2,355. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,355. Electricity: program service expenses 1,447. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,447. Audit and tax preparation: program service expenses 0. Management and general expenses 1,010. Fundraising expenses 0. Total expenses 1,010. Office supplies/printing/postage: program service expenses 692. Management and general expenses 0. Fundraising expenses 0. Total expenses 692. Reserve study: program service expenses 600. Management and general expenses 0. Fundraising expenses 0. Total expenses 600. Income taxes: program service expenses 235. Management and general expenses 0. Fundraising expenses 0. Total expenses 235.”

“The process of oversight of the association's audit preparation and approval has not changed during the current fiscal year.”